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Emerging-Market Selloff Fades on Oil Rebound, European Growth

  • Currencies rise from one-week low, led by Russia's ruble
  • Equity benchmark posts biggest weekly decline in a month
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A selloff in emerging-market assets eased as a rebound in oil prices and data showing the euro-area’s economy expanded at the end of 2015 helped offset concern that central banks won’t be able to stem a slowdown in global growth.

The Colombian peso and Russia’s ruble led currencies higher as a Bloomberg gauge of developing-nation exchange rates rose from a one-week low. Shares in emerging Europe and Africa rallied, offsetting declines in Asia. The MSCI Emerging Europe, Middle East and Africa Index advanced 1.2 percent, led by Naspers Ltd. in Johannesburg. Polish equities climbed for the first time this week. Chinese shares traded in Hong Kong slumped to the lowest in almost seven years as markets across Asia retreated, following a decline in world equities into a bear market on Thursday.